SAPA GROUP: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
SAPA GROUP
Largest movements
- Receivables within one year -€836
down €836 (-13.7%), from €6,087 to €5,251
of which Trade receivables: -€893
- Deferred charges and accrued income -€284
down €284 (-63.4%), from €447 to €163
- Cash +€109
up €109 (+61.6%), from €178 to €287
mainly Other debts (+€1,133) and Receivables within one year (+€836)
- Profit (loss) carried forward -€2,090
down €2,090 (-15.6%), from -€13,361 to -€15,451
- Other debts +€1,133
up €1,133 (+7.8%), from €14,569 to €15,701
- Gross operating margin -€691
down €691 (-104.4%), from -€662 to -€1,354
- Purchases and services +€551
up €551 (+12.8%), from €4,321 to €4,872
- Depreciation -€486
no longer reported in 2025 (was €486)
- Turnover -€140
down €140 (-3.8%), from €3,659 to €3,519
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,408 | €7,399 | -€1,010 | -12.0% |
| Current assets | 29/58 | €8,408 | €7,399 | -€1,010 | -12.0% |
| Stocks and contracts in progress | 3 | €1,697 | €1,697 | = | 0.0% |
| Stocks | 30/36 | €1,697 | €1,697 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €6,087 | €5,251 | -€836 | -13.7% |
| Trade receivables | 40 | €5,985 | €5,092 | -€893 | -14.9% |
| Other amounts receivable | 41 | €102 | €159 | +€57 | +56.5% |
| Cash at bank and in hand | 54/58 | €178 | €287 | +€109 | +61.6% |
| Deferred charges and accrued income | 490/1 | €447 | €163 | -€284 | -63.4% |
| Total equity and liabilities | 10/49 | €8,408 | €7,399 | -€1,010 | -12.0% |
| Equity | 10/15 | -€6,389 | -€8,480 | -€2,090 | -32.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | €6,200 | €6,200 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €772 | €772 | = | 0.0% |
| Non-distributable reserves | 130/1 | €772 | €772 | = | 0.0% |
| Legal reserve | 130 | €772 | €772 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,361 | -€15,451 | -€2,090 | -15.6% |
| Amounts payable | 17/49 | €14,798 | €15,878 | +€1,080 | +7.3% |
| Amounts payable within one year | 42/48 | €14,798 | €15,878 | +€1,080 | +7.3% |
| Trade debts | 44 | €229 | €177 | -€52 | -22.8% |
| Suppliers | 440/4 | €229 | €177 | -€52 | -22.8% |
| Other amounts payable | 47/48 | €14,569 | €15,701 | +€1,133 | +7.8% |
| Turnover | 70 | €3,659 | €3,519 | -€140 | -3.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €4,321 | €4,872 | +€551 | +12.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €486 | - | -€486 | |
| Other operating charges | 640/8 | €472 | €485 | +€12 | +2.6% |
| Gross operating margin | 9900 | -€662 | -€1,354 | -€691 | -104.4% |
| Operating profit (loss) | 9901 | -€1,621 | -€1,838 | -€218 | -13.4% |
| Financial charges | 65/66B | €267 | €252 | -€15 | -5.8% |
| Recurring financial charges | 65 | €267 | €252 | -€15 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | -€1,888 | -€2,090 | -€203 | -10.7% |
| Profit (loss) for the period | 9904 | -€1,888 | -€2,090 | -€203 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,888 | -€2,090 | -€203 | -10.7% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.